Blogger, Rafat Ali, Raises VC Dollars

Rafat explains the investment saying that the investment comes from Alan Patricof and that the amount will not be disclosed.

What will Rafat do with the invested money?

“We’ll be hiring a journalist in NYC, starting our UK vertical, launching a redesign of all our sites, hiring more staff for operations and sales, bringing on interns, planning more industry mixers and developing conferences, starting our research arm, and more.”

Found via the WSJ (subscription required) which reports that the investment is lower than $ 1 million.

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I agree with here John too that $1 million is too little amount of money to implement such a grand project. HOwever, in my own life I have seen tha hard work and dedication can often cover up the shortage of money. So, I am hopeful that Rafat will shine.

I don’t see a problem with $1m. From what I see, most VC situations take on different rounds of investment at different times. $1m is a great start and would definately take any blogging operation to the next level.